Kuwait

Kuwait Faces Power Interruptions Amid Surging Demand and Maintenance Work

2 months ago

Kuwait is currently grappling with power outages in several areas as the country experiences an unprecedented spike in energy demand combined with scheduled maintenance activities. The Kuwait Ministry of Electricity and Water announced that the outages, which are affecting various neighborhoods, are a necessary measure to manage the increased load on the electrical grid. This has raised concerns among residents facing inconvenience during peak usage hours.

Kuwait Makes Historic Move to Allow Banks to Offer Mortgages

3 months ago

In a groundbreaking development for the financial landscape of Kuwait, the Central Bank has announced plans to allow local banks to offer mortgage lending for the very first time. This significant policy shift is poised to revolutionize access to home ownership for many Kuwaitis and enhance the overall functionality of the housing market.

China and Kuwait Forge Stronger Bonds Through Solar Power Agreements

3 months ago

In a significant move towards enhancing bilateral relations, China has entered into a strategic partnership with Kuwait focused on expanding solar power initiatives. This collaboration reflects both countries’ commitment to sustainable energy solutions and aims to diversify Kuwait's energy portfolio, which has largely relied on fossil fuels.

Engie Sells Middle East Stakes: $693 Million Deal Marks Exit from Kuwait and Bahrain

4 months ago

In a significant move reshaping its portfolio, French energy giant Engie has announced the sale of its assets in Kuwait and Bahrain to a Saudi Arabian firm, marking the company's exit from these two critical markets. The transaction, valued at a staggering $693 million, is part of Engie's ongoing strategy to streamline its operations and focus on core areas of growth.